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Last year of Shmita was 2007. Next year of Shmita begins in Sept. 2014. Fact two: Year of Jubilee happens in 50 year cycles, following the 7th year of Shmita. In Jubilee, all debts are supposed to be cancelled, all land is supposed to be returned to its original owner. Liberty is proclaimed throughout the land.
Clearly there is a very dynamic connection between these two periods of forty-nine days! Jewish Leap years occur 7 times in a 19 year cycle. In the 3rd, 6th, 8th, 11th, 14th, 17th and 19th years of the 19 year cycle (modulo 19), the extra month, of Adar ×, is inserted to keep the holidays in sync with the seasons.